News
Apil applauds investigation into motor insurers' "grubby practices"
The Association of Personal Injury Lawyers has claimed that motor insurers have "finally been caught with their hands in the cookie jar" following the Office of Fair Trading decision to refer the sector to the Competition Commission.
Fitch expects 'severe adverse effects' for any country exiting the euro
A special report published by Fitch today addresses the possible impact on credit ratings of countries redenominating after a Eurozone breakup.
Strong growth prospects for Nordic life market
Growth prospects for the Nordic life insurance markets remain strong, but insurers will have to assess the viability of selling contracts with investment guarantees due to high capital charges under Solvency II, according to Fitch.
QBE appoints country manager for new Belgium operation
QBE has named Erik de Smedt as country manager for Belgium, following a decision to open an underwriting office in Brussels.
ABI and Accident Exchange boss clash over 'scapegoating' of credit hirers
The director of general insurance at the Association of British Insurers and the chief executive of credit hirer Accident Exchange have exchanged heated emails after the ABI welcomed the Office of Fair Trading's decision to provisionally refer the motor…
ISA 2012: Insurers urged to sharpen up claims management processes
Rising claims recorded in Asia due to the Thailand floods and Japan earthquakes mean that optimising claims management is critical for insurers seeking to improve customer satisfaction.
Transport Select Committee backs credit hire Competition Commission investigation
The Transport Select Committee has welcomed the Office of Fair Trading's provisional decision to refer an investigation into credit hire and third-party repair to the Competition Commission.
LV Broker launches ABC Home on Open GI
The new deal follows the success of the ABC car insurance product on the platform and is part of LV Broker's continuing strategy to strengthen its electronically traded product range.
Industry must work together to tackle motor insurance costs, says Mass chairwoman
The Motor Accident Solicitors Society has called the Office of Fair Trading report into the third-party vehicle repairs issue the "tip of the iceberg" with a Competition Commission investigation almost inevitable.
FM Global makes senior appointments in Asia and Europe
FM Global has made a number of senior changes to its management team in Asia and Europe.
ABI welcomes OFT referral as GTA rate review leaves cost unchanged
The Association of British Insurers welcomed the Office of Fair Trading's decision to provisionally refer the study into vehicle repair services to the Competition Commission criticising the exaggerated costs insurers pay for credit hire cars.
Europe sees total GWP fall in 2011, but non-life premiums continue to rise
Total written premiums for Europe's insurers fell by 1.5% at a constant exchange rate during 2011, statistics published by Insurance Europe today showed.
RSA appoints new PL boss and finance director
RSA has promoted Jill White to personal lines broker managing director and Antony Erotocritou to finance director, personal.
Credit Hire Organisation boss discourages potentially costly Competition Commission investigation
The Credit Hire Organisation has said that referring the motor insurance study to the Competition Commission would be similar to using a "sledge hammer to crack a nut" and could cost millions of pounds to solve the "dysfunctional vehicle repair service"…
OFT to refer credit hire study to Competition Commission
The Office of Fair Trading has provisionally decided to refer the private motor insurance market study to the Competition Commission after finding that insurers were too "distracted" with lowering costs and pushing up rivals' premiums to provide…
Coversure opens Devon office
Coversure Insurance Services has opened an office in Ilfracombe.
Ingenie boosts underwriting as it partners with RSA
RSA is set to provide underwriting capacity to Ingenie to meet the increasing demand for its young driver telematics insurance cover.
FSA hits back at Solvency II gold-plating concerns
The Financial Services Authority has hit back at criticism that it is gold-plating regulation and adopting an "audit approach" to Solvency II, claiming it is ensuring that all the directive requirements are met.
ABI boss warns of unco-ordinated regulation rush in push to twin peaks
The insurance market has been warned that there is a "danger" of regulation being rushed through, as a number of unanswered questions remain in the run up to new financial regulation next year.
Giles rejects IPO, claiming 15% rise in 2011 operating earnings beats peers
Strategic acquisitions in 2012 by consolidator Giles could still rival those from 2011 by value, if not frequency, despite a renewed focus on organic growth, as it looks to bolster specialisms and close gaps in its geographic footprint.
Cobra takeover deadline extended as only Alto remains in the running
The protracted sale of Cobra, which has recently ended up as a one-horse race, has sparked debate among industry insiders as to whether networks represent limited appeal.
View from the top: How safe is your bank?
UK financiers are battening down the hatches as they brace themselves for eurozone write-down effects, warns Andrew Holman.
North of the border: Explosion prompts negligence test
In the recent case of ICL v Johnston Oils (2012) the question was this: when should the court apply the standard of care of the reasonable man, and when should it apply the professional negligence standard?
View from the top: From the outside looking in
Encouraging remarks emphasise that the good work insurers are doing must continue, says Barry Smith.